The Ins & Outs of Barbados 2022

91 Property & Investment cran e vaca ti on vil la Cragmere Lizzie Moore Lizzie@oceanstoneresort.com 1 (902) 240-5760 www.cranevista.com Matthew Moore info@mooresuites.com 1 (902) 877-5350 "heaven on earth" luxury, privacy, and superb ocean views at a highly acclaimed, award-winning villa AWARDED BY At-a-Glance Facts for Overseas Purchasers • There are no restrictions on foreign ownership of property in Barbados. • Non-residents must ensure that all funds for the purchase are available from external sources. • US Dollar mortgages are available to non- residents from the offshore sector of local banks. • All money brought into Barbados should be registered at the Central Bank to facilitate repatriation if the property is sold. • The permission of the Exchange Control Authority must be obtained for the sale or purchase of property by a non-resident. • There is no Capital Gains Tax in Barbados. • Propertymust pass conveyance of title, executed by a registered Barbadian attorney. • Transaction costs include real estate agent’s fee, attorney fees, stamp duty, transfer tax, land tax - Please seek professional guidance for up to date information and rates. Typical Purchase Process • Ensure you have the requisite funds available. • Identify the property you wish to purchase. • Make a verbal offer and get acceptance. • Appoint a registered Barbadian attorney. • Exchange of contracts. • Pay 10% deposit. • Conveyance completed. • Pay 90% balance.